Todd Hutchings Practice Group Leader, Los Angeles and Palo Alto
Both the in-vivo and in-vitro markets have unprecedented opportunities and challenges. These opportunities include personalized medicine with its need for ever more specific diagnostics, the increasing sophistication of diagnostics, and regulatory pressure. The competitive landscape is also becoming more complex.
Diagnostic imaging companies have their own challenges. With major new purchases made more challenging by the situation on the credit markets, purchasers are also concerned with the potential decrease in reimbursement. However, the need for diagnostic imaging at lower prices not only creates an opportunity in established markets, but also re-emphasizes the opportunity in creating products for emerging markets. Perhaps even more importantly, the ability to diagnose and treat effectively has never been stronger in a variety of clinical areas.
These challenges create a need for thorough clinical understanding, advanced R&D capability, collaboration and strategic marketing. For diagnostic imaging, the ability to understand how to create sustainable market share is also important.
What skills are needed now?
To master these challenges a combination of strong strategic marketing, regulatory capabilities and innovative R&D will be essential. Leading cross-functional teams, managing a portfolio of (analogous) products, and making the trade-offs of long and short-term investment and product launches are all key aspects of success.
How can Egon Zehnder support the diagnostics industry?
We have placed a large number of executives in diagnostics companies. Our clients include the well-known market leaders as well as the innovative potential future leaders.
We understand the issues from competition, market, value-chain and geographical perspectives.
Our ability to source and recruit talent from the relevant areas around the globe sets us apart in serving our clients. In several instances we have found the answer outside the usual target market. Our ability to work across industries and markets provides innovative talent solutions for our clients.
Additionally, we are focused not only on recruiting external talent but also on assisting our clients to develop the appropriate skills in the most effective manner for their current employees and teams. These Leadership Strategy Services are a hallmark of our service model.
How we operate
Egon Zehnder partners with organizations to raise their level of talent. We work across the talent management continuum to provide search, assessment and development services. Our consultants were all experienced business leaders before entering our firm and can therefore understand your business problem when developing a talent solution for you.
Our Executive Assessment and Development Practice offers proven expertise in systematically evaluating and benchmarking companies’ existing management portfolio at both individual and team levels. This strategic approach to creating top-class management teams can only be realized with the backing of a company’s CEO and more particularly its board. Both need experience of leading their companies through turbulent times.
All of our Life Sciences Practice consultants acquired extensive professional experience in the healthcare industry before joining Egon Zehnder. This expertise is embedded in our global network. Our entire firm operates as a single profit center, which both encourages and rewards collaboration.